Grupo Éxito files a request to list shares in the United States - Companies

The company announced that it filed a public application.

It would become the first national company to be listed in Brazil, the US and Colombia.

By filing a public registration application with the United States Securities and Exchange Commission (SEC), the Success Group seeks to have a shareholding in the North American country.

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The operation contemplates that the company that owns the Colombian warehouse group, the Brazilian Distribution Company (GPA)distributes close to 83% of Éxito’s capital to its more than 50,000 shareholders, who will also become shareholders of the group directly through Level II Brazilian Depository Receipts ((Level II BDRs) and Level II American Depository Receipts (ADR Level II).

The Éxito group is for sale. Jaime Gilinski, willing to pay US$ 836 million for Éxito. Minister Bonilla responded.

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Success, TIME and Presidency

“The distribution of Level II BDRs and Level II ADRs to GPA shareholders will take place once the SEC approves the corresponding filings, the NYSE approves the listing request and the local authorities approve the transfers of shares to the BDRs Level II and ADRs Level II, which is expected to occur in the middle of the third quarter of 2023”, explained Grupo Éxito.

Once the share distribution is complete, Grupo Éxito’s securities will begin trading on the B3 Stock Exchange in Brazil and on the New York Stock Exchange.

So things, Success Group it would become the first Colombian company to have shares listed on the Brazilian, US and Colombian stock markets.

Similarly, the result of this strategy is expected to be an increase in the liquidity of the company’s shares, expanding its shareholding base from 3.48% to 53%.